Financial Information
Your Property Tax Bill for 2019
After carefully reviewing multiple tax levy scenarios, the Board of Education unanimously approved total property taxes of $29,278,000 while also abating $580,000 of taxes related to outstanding bonds. The School District expects the net result to be a slight decrease in the average homeowner's 2019 tax bill. The School Board believes this option meets the fiscal responsibility of the the School District while also being sensitive to the needs of the community.
The April 2 Proposition Was Not District Initiated
The Proposition Question was not put on the ballot by the District, but if the Proposition is approved by a majority of those who cast ballots, it will have a direct effect on the educational services that our District provides to our students. We invite you to review the information below to gain a better understanding of how the April 2 Ballot Proposition will impact Lisle 202 finances.
How does Lisle 202's tax rate compare with other DuPage County school districts?
Lisle 202's tax rate is consistent with surrounding districts.
| Tax Rate | School District |
|---|---|
| $6.45 | Woodridge Elementary District 68 & Downers Grove HS District 99 |
| $5.50 | Indian Prairie 204 |
| $5.00 | Naperville District 203 |
| $5.00 | Lisle District 202 |
| $5.00 | Wheaton-Warrenville District 200 |
| $4.70 | Westmont District 201 |
| $3.95 | Downers Grove Elementary District 58 & Downers Grove HS District 99 |
*per $100 of Assessed Property Value
What is the historic tax levy increase?
Tax levy increases have been consistent with inflation. Lisle 202 is conscientious of the impact of taxes on individuals and businesses in the community. Annual increases have been consistent with the U.S. Consumer Price Index to cover the rising costs of expenditures. The average annual increases have been 1.1% for the average household in Lisle for the past five years.
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Why do the District's fund balances appear high?
School Districts get paid twice each year, once in June and once in September. The monies collected must be carefully budgeted to last for the entire year. Just as when you receive your paycheck, your bank account looks high right after the check is deposited, but once you pay your bills, the fund balances decrease.
Right now, Lisle 202 fund balances include the monies designated for the new school. These funds will no longer be available once we have paid the construction bills and our fund balances will reflect the true totals.
What is Board Policy on Fund Balances?
Building and maintaining an adequate Fund Balance is a prudent fiscal policy with increasingly critical benefits for any governmental body. According to the Illinois Association of School Business Officials, maintaining adequate fund balances throughout the year allow the school district to:
- Stabilize year over year educational performance
- Minimize educational service disruptions
- Maintain cash on hand to counter unanticipated cash flow shortfalls
- Address emergency situations, particularly those that threaten health and life safety
- Fund educational growth and change opportunities
- Enhance credit rating strength and increase access to debt markets at lower interest costs
- Increase long-term fiscal performance
- Allow the school district to manage unforeseen expenditure demands and revenue shortfalls
Lisle School District 202’s Board of Education evaluated the long-term needs of the school district and developed Board Policy 4.2 which targets a reserve level for the operating funds between three to six months.
What is the current Fund Balance?
How are the community's tax dollars spent?
The majority of funds, 66 cents of every dollar, are spent on what's most important, services and materials that directly impact student learning in the classroom. Honors classes, 13 Advanced Placement courses, World Languages, Career/Technical Education, Choir, Band, Photography, Engineering are examples of courses available as a result of the funds provided from local sources.
A large amount of dollars are also spent on providing an array of extra-curricular activities such as sports and the many clubs offered to students.
Other funds are spent on food service, transportation, operations and administrative services, and maintaining and improving District facilities. For example, repairing roofs and HVAC (heating and cooling) systems, repairing and seal-coating parking lots, and soon we will be replacing the aging parking lot at the High School to ensure student safety.
How often has the District asked the community for a tax rate increase beyond inflation?
Lisle 202 has been a unit district for approximately 45 years. During that time, the District has worked hard to be responsible stewards of the community's tax dollars. This is evidenced by the fact that the District has only asked for a tax rate increase two times in the history of the District.
- 1979 - Failed
- 2004 - Passed
At the time of the 2004 referendum, the Board of Education promised not to return to the community to ask for more funds for 10 years. It has now been 15 years and our District remains financially secure due to the responsible fiscal management practices utilized each year.